Life Time Group Holdings, Inc. (LTH) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 56.25%. A quarter ago, it was expected that this company would post earnings of $0.16 per share when it actually produced earnings of $0.15, delivering a surprise of -6.25%. Over the last four quarte ...

Financial Performance - Total revenue for Q2 2024 was $667.8 million, an increase of 18.9% compared to Q2 2023[1] - Net income rose to $52.8 million, up $35.8 million or 210.6% year-over-year[2] - Adjusted EBITDA increased by 27.6% to $173.5 million compared to the prior year quarter[2] - Total revenue for Q2 2024 reached $667.8 million, a 19% increase from $561.7 million in Q2 2023[13] - Net income for Q2 2024 was $52.8 million, compared to $17.0 million in Q2 2023, representing a 210% increase[13] - Operating income for the first half of 2024 was $176.8 million, up from $119.8 million in the same period last year, reflecting a 47% increase[13] - Center revenue for Q2 2024 was $645.0 million, a 19% increase from $542.1 million in Q2 2023[13] - Adjusted net income for the first half of 2024 increased by 39.5% to $83.4 million[5] - Adjusted net income for the second quarter of 2024 was $52,440, up from $37,965 in 2023, reflecting a growth of 38.1%[19] - Adjusted EBITDA for the second quarter of 2024 was $173,545, up from $136,039 in 2023, representing a 27.6% increase[20] - Adjusted EBITDA for the trailing twelve months ended June 30, 2024, reached $600,211 thousand, compared to $434,143 thousand for the same period in 2023, reflecting a growth of 38.3%[24] Membership and Subscriptions - Center memberships grew by 42,398, or 5.4%, year-over-year, totaling 832,636 memberships[3] - Total subscriptions, including center and digital memberships, increased by 5.5% to 878,767[3] - Total memberships increased to 878,767 in 2024 from 832,639 in 2023, representing a growth of 5.5%[17] - Membership dues and enrollment fees rose to $462,696 in 2024, up from $387,115 in 2023, marking a 19.5% increase[17] - In-center revenue reached $182,311 in 2024, compared to $155,010 in 2023, reflecting an increase of 17.6%[17] - Average center revenue per center membership increased to $794 in 2024 from $701 in 2023, a rise of 13.3%[17] Cash Flow and Capital Expenditures - Free cash flow reached $175.1 million, including $149.0 million from sale-leaseback transactions[6] - Cash and cash equivalents increased to $34.5 million as of June 30, 2024, up from $11.2 million at the end of 2023[14] - The company reported a net cash provided by operating activities of $260.8 million for the first half of 2024, compared to $216.3 million in the same period last year[15] - Capital expenditures for the first half of 2024 were $301.1 million, down from $337.1 million in the same period last year[15] - Free cash flow improved to $175,116 in the second quarter of 2024, compared to $21,045 in 2023[22] - Net cash provided by operating activities was $170,423 in the second quarter of 2024, compared to $141,943 in 2023, an increase of 19.9%[20] - Free cash flow for the three months ended June 30, 2024, was $175,116 thousand, significantly up from $21,045 thousand in the prior year, indicating a substantial increase of 733.5%[23] - Capital expenditures for the six months ended June 30, 2024, were $(301,107) thousand, a decrease from $(337,076) thousand in the same period of 2023[23] Debt and Liabilities - The net debt leverage ratio improved to 3.0x, down from 4.3x a year ago[7] - The company’s total liabilities decreased to $4.8 billion as of June 30, 2024, from $4.8 billion at the end of 2023[14] - Interest expense, net of interest income, for the trailing twelve months ended June 30, 2024, was $142,695 thousand, up from $119,675 thousand in the previous year[24] - Share-based compensation expense increased to $46,670 thousand for the trailing twelve months ended June 30, 2024, compared to $32,051 thousand in the prior year[24] - The company reported a loss on sale-leaseback transactions of $5,307 thousand for the trailing twelve months ended June 30, 2024, compared to a gain of $(47,289) thousand in the previous year[24] Future Outlook - Full-year 2024 revenue guidance is set at $2,560 – $2,590 million, representing a 16.2% increase from 2023[7] - The company plans to open new centers and expand its market presence, contributing to future revenue growth[12] - The company projects adjusted EBITDA for the year ended December 31, 2024, to be in the range of $642 million to $652 million[26] - Net income for the year ended December 31, 2024, is expected to be between $142 million and $148 million[26] - The company opened 3 new centers in the second quarter of 2024, bringing the total to 175 centers[17]

Core Viewpoint - Life Time Group Holdings, Inc. has appointed Erik Weaver as Executive Vice President & Chief Financial Officer effective August 1, 2024, following his role as Interim Chief Financial Officer since January 1, 2024 [1] Group 1: Leadership Appointment - Erik Weaver has been with the company since 2004, holding various positions including Assistant Controller, Vice President and Controller, and Senior Vice President and Controller [2] - His financial leadership has been crucial in positioning the company for growth, overseeing accounting, financial reporting, and tax functions [2] - The appointment was supported by a thorough search process, with unanimous agreement from the Board of Directors and the CEO, Bahram Akradi, highlighting Weaver's extensive experience and recent performance [3] Group 2: Company Overview - Life Time operates over 170 athletic country clubs across the United States and Canada, focusing on health and wellness [4] - The company offers a range of healthy lifestyle programs through its Life Time Digital app and serves a diverse community from ages 90 days to over 90 years [4] - Life Time also owns and produces nearly 30 iconic athletic events in the country, supported by a team of over 45,000 professionals [4]

Total revenue of $667.8 million increased 18.9% over the prior year quarter Net income of $52.8 million increased by $35.8 million over the prior year quarter Adjusted EBITDA of $173.5 million increased by 27.6% over the prior year quarter Diluted EPS increased to $0.26 Achieved positive free cash flow Reduced net debt leverage ratio to 3.0 times CHANHASSEN, Minn., Aug. 1, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. ("Life Time," "we," "our," "us," or the "Company") (NYSE: LTH) today announced its f ...

Core Insights - Life Time has opened its newest location, Life Time Harbour Island, in Tampa, Florida, on July 9, 2024, with a waitlist exceeding 10,000 members [1][4][7] Company Overview - Life Time operates over 170 athletic country clubs across the United States and Canada, focusing on health and wellness for individuals aged 90 days to 90+ years [9] - The company employs more than 39,000 professionals dedicated to promoting healthy living [9] Facility Details - The Harbour Island location spans nearly 6.5 acres, featuring a total of 186,000 square feet, including 36,000 square feet of indoor space and 150,000 square feet of outdoor facilities [4][3] - The outdoor area includes 12 pickleball courts and eight tennis courts with stadium seating, a 4-lane lap pool, a cold plunge pool, and a kids' splash pool [6] Amenities and Services - The facility offers various fitness studios for group classes, personal training, and a full-service LifeCafe restaurant and bar [5] - A dedicated Kids Academy provides activities for children aged 3 months to 11 years, focusing on various developmental skills [5] Community Impact - The opening of Life Time Harbour Island is expected to create new jobs and enhance the vibrancy of the Tampa community, aligning with the city's commitment to healthy living [4]

Group 1 - Life Time Group Holdings, Inc. will release its financial results for the second quarter of 2024 on August 1, 2024, before market open [1] - A conference call to discuss the results and provide a business update will take place at 10:00 a.m. ET on the same day [1][4] - Life Time operates over 170 athletic country clubs in the U.S. and Canada, focusing on health and wellness through various programs and a digital app [3] Group 2 - The company employs more than 39,000 professionals dedicated to promoting healthy living and aging [3] - Life Time also owns and produces nearly 30 iconic athletic events across the country [3] - A recorded replay of the conference call will be available shortly after its conclusion, with specific access details provided [7]

CHANHASSEN, Minn., July 1, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. ("Life Time" or the "Company") (NYSE: LTH) announced that on Friday, June 28, 2024, it closed on a sale-leaseback transaction for two properties totaling $90 million in gross proceeds. This transaction brings the Company's total gross proceeds from sale-leasebacks to $130 million year-to-date. The Company is also in negotiations for additional sale-leasebacks with expected gross proceeds of $40-$65 million, which it expects to cl ...

Core Insights - Life Time emphasizes the importance of health and wellness for fathers, providing tips from experienced personal trainers to inspire positive lifestyle changes [4][9] Group 1: Tips from Personal Trainers - Consistency in workouts is more important than perfection, encouraging fathers to adapt their routines as needed [5][10] - Seeking help and prioritizing mental health are crucial for maintaining balance and effectiveness in daily life [2][11] - Daily movement and setting a positive example for children can foster lifelong healthy habits [6][12] Group 2: Company Overview - Life Time operates over 170 athletic country clubs in the U.S. and Canada, focusing on healthy living and wellness programs [4][14] - The company offers a complimentary digital app to support fitness journeys, enhancing accessibility to health resources [4][3] - Life Time employs over 39,000 professionals dedicated to promoting health and wellness across various age groups [14]

Core Viewpoint - Life Time Group Holdings, Inc. will participate in three investor conferences in June 2024, showcasing its commitment to engaging with investors and analysts [1]. Group 1: Upcoming Conferences - Life Time will attend the Morgan Stanley 2nd Annual Travel & Leisure Conference on June 3-4, 2024, with a fireside chat scheduled for June 3 from 3:00 pm to 3:30 pm ET [2][6]. - The company will also participate in the Oppenheimer Virtual 24th Consumer Growth & eCommerce Conference from June 10-12, 2024, with a fireside chat on June 12 from 11:15 am to 11:50 am ET [3][6]. - Additionally, Life Time will be present at the Northland Virtual Growth Conference on June 25, 2024, offering one-on-one meetings [4][6]. Group 2: Company Overview - Life Time operates over 170 athletic country clubs across the United States and Canada, focusing on health and wellness [4]. - The company supports a diverse range of healthy living programs through its Life Time Digital app, catering to individuals aged 90 days to over 90 years [4]. - Life Time employs more than 39,000 professionals and organizes nearly 30 iconic athletic events in the country [4].

Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of more than 170 athletic country clubs across the United States and Canada. The health and wellness pioneer also delivers a range of healthy way of life programs and information via its complimentary Life Time Digital app. The Company's healthy living, healthy aging, healthy entertainment communities and ecosystem serve people 90 days to 90+ years old and is supported by a team of more than 39,000 dedicated professiona ...